Antam delays coal mine acquisition this year
Wednesday, August 14 2013 - 03:50 AM WIB
IDX-listed mining company PT Aneka Tambang Tbk (Antam) delayed its plan to acquire a new coal mine this year as the industry is still struggling.
"We focuses on the existing mines and may resume the acquisition next year," President Director of Antam Tato Miraza said recently as reported by Kontan on Wednesday.
Antam's subsidiary PT Indonesia Coal Resource (ICR) acquired a coal mine in Sorolangun, Jambi with Rp92.5 billion price tag in January 2011.
In 2012, Sorolangun production reached 608,000 tons and the company sets 1 million tons target for this year. (*)